The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

This paper explores the capacity of computable general equilibrium (CGE) models to track down policy induced economic changes and their ability to generate contrastable data for an economy. Starting from an empirically built regional Social Accounting Matrix (SAM), a first stage CGE calibrated...

Compared to oil and gas, metals have been rather a side issue in the economic analysis of natural resources in the last decades. However, in the recent past we saw an increase of interest in the topic, mainly driven by the heated discussion about critical metals. Rare Earth Elements (REE) are...

The objective of this paper is to build and use FAVAR model to evaluate the responses of a wide range of macroeconomic variables to monetary policy shocks. FAVAR is superior to standard VAR for many reasons. One, with Factor VAR model, it is possible to combine the standard VAR approach with...

In this paper, we develop a structural macro econometric model for Turkey, to assess the role of structural characteristics of an emerging economy on macroeconomic indicators. In this model, standard macroeconomic policy results are observed as the target levels and actual levels. Technically,...

“Input-Output” table which was designed for solution of mutual relation(impact) problem is widely applied tool in the world for conducting economic analysis and forecasting. One of the most important problem of our today’s world is to prevent financial-economic crises in  several...

Value creation processes based on economic dynamics of contribution – also referred as crowdsourcing or web 2.0 - take more and more importance in contemporary capitalism (Moulier-Boutang 2010; Moulier-Boutang 2011a). This paper’s aim is twofold: 1) to contribute to a better understanding of the...

Energy productivity, defined as the ratio of GDP to energy used, is pervasively used as an indicator of energy efficiency at national level, although it is not an appropriate one. We point out that the traditional energy productivity could measure only the cost effectiveness of energy to achieve...

GDP and its components’ evolution show an oscillatory behavior. As an alternative approach to classical cyclic behavior producing models, the paper analyses this behavior both by Fourier transforms of the data series and by a discussion of the roots configuration of the associated second order...

We investigate the monetary transmission mechanism in South Africa, a small open country, in terms of both the “timing and the effect” of monetary policy. We use a modelling approach that has not been utilised yet to do this. The trade shares of South Africa’s trading partners changed...